Bombay Dyeing jumps on getting nod to sell land parcel in Worli
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Bombay Dyeing is currently trading at Rs. 163.75, up by 23.30 points or 16.59% from its previous closing of Rs. 140.45 on the BSE.
The scrip opened at Rs. 164.80 and has touched a high and low of Rs. 168.50 and Rs. 158.55 respectively. So far 1220736 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 160.00 on 07-Sep-2023 and a 52 week low of Rs. 53.37 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 160.00 and Rs. 127.00 respectively. The current market cap of the company is Rs. 2900.78 crore.
The promoters holding in the company stood at 53.59 % while Institutions and Non-Institutions held 3.11% and 43.30% respectively.
Bombay Dyeing & Manufacturing Company has received approval from Board of Directors to sell the land parcel of about 22 acres (along with the associated FSI) in Worli, Mumbai to Goisu Realty (a subsidiary of Sumitomo Realty & Development Company) (Buyer) in 2 phases, for a total consideration of about Rs 5,200 crore, subject to approval of its Shareholders. Upon approval of Shareholders, the company will receive about Rs 4,675 crore from the Buyer for Phase-I. The balance amount of about Rs 525 crore will be received upon completion of certain conditions by the company and execution & consummation of the definitive agreements thereto for Phase- II.
Bombay Dyeing & Manufacturing Company is the flagship company of the Wadia Group, engaged primarily in the business of Textiles.
